Koreans are as old as the energy they feel | WARC | The Feed

Koreans are as old as the energy they feel

Six in 10 Koreans over the age of 50 regard old age as a life stage that people only experience when they start to lose energy.

That’s according to a recent survey by the National Pension Research Institute (NPRI), reported by The ChosunIlbo. It repeats an important attitudinal finding: age is just a number – and old age, for many Koreans having to contemplate its imminent arrival, begins at almost 70 (69.4 to be exact).

The findings 

• Retirement age may be a useful cut-off point, but this research highlights a gap between the current pension age of 63, when just over one fifth of respondents think a person feels old, and the reality that 60% are pushing that point back by seven years.
• Average monthly pensions (W580,000 in 2022) aren’t keeping up with the cost of living: the NPRI puts the minimum monthly cost of living at W1.24m for an individual, with the optimum monthly cost at W1.77m.

Why it matters 

Age is an important filter for marketers, but they need to be wary of making assumptions about what content is suitable for older age groups, both in terms of attitude and in terms of income. Marketers in the financial services sector, especially, can help people think about how to best approach savings in order to make old age more comfortable. 

Sourced from The ChosunIlbo